B.B. King Blues Club & Grill
237 W 42nd St
Times Square
Consists of two areas: the Showcase Room which features bigger name performers and the smaller Lucille's Grill which offers free music.
Birdland
W 44th St
between 8th and 9th Aves
This historic club though not at the original location of W. 52 St. features a great lineup of justly famous performers and has good acoustics. Expect to pay a fair price for that quality. Pricey drinks, good desserts. Dinner is also available and might be worth a try.